Hit Tough Times? Keep your Cashflow Strong
Hit Tough Times? Keep your Cashflow Strong Small businesses are particularly vulnerable in tough economic times. How can you keep your cashflow strong? When sales are slow, overheads and salaries still need to be sorted. Pre-planning and being proactive can help you weather tighter economic periods and allow you to continue to thrive. Ensure you […]
International Business in Australia: When to Register GST
International Business in Australia – When to Register for GST Does your international business make sales in Australia? You may need to register for Australian goods and services tax. Like many countries, Australia charges a goods and services tax (GST) on most products and services sold within Australia. Australian GST is a tax of 10% […]
Get More from your Personal Finances
Get More from your Personal Finances Managing personal finances is an essential skill that everyone should learn. It can help you make the most of your money, achieve your financial goals, and build a solid foundation for your future. Here are seven tips to help you manage your personal finances: Managing your finances well requires […]
Control Your Business Finances – Here’s How
Control Your Business Finances – Here’s How Having proper control of your business finances is a big advantage. It helps you make well-informed business decisions and keeps your organisation profitable. With so many digital tools for managing your bookkeeping, accounting, and management reporting, it’s never been easier to manage, track and forecast your financial position. […]
Inventory Accounting – Is it Important?
Inventory Accounting – Is it Important? Inventory Accounting is keeping track of your inventory, the time it takes to sell, and the profit made on each product. It is essential to track inventory if you want to manage your business effectively. What counts as inventory? Inventory is anything you buy to on-sell, including fully-completed items […]
Budgets Are Boring! 5 Ways to Spend Less Easily
Budgets Are Boring! 5 ways to spend less without one. If you hate budgets and budgeting and find it sooo boring, how can you easily cut your spending? Here are five ways to save without tracking every transaction: Confession Time… We Love Budgets! We actually love budgets, even though they have a boring reputation. They’re […]
Breakeven Point – What’s Yours?
Breakeven Point – What’s Yours? Understanding your business breakeven point is essential to know how much money you need to make to stay in business. It can therefore help you make well-informed financial decisions and practical business plans. The breakeven point is the income or sales needed to cover all costs. Any earnings above this […]
UPDATE: Working From Home Deductions
UPDATE: Working From Home Deductions Starting from the 2023 financial year, there are new rules for keeping records and calculating deductions for people who are working from home. There are now two ways to work out your deductions: the actual cost method and the revised fixed rate method. The revised fixed rate method has been […]